Wireless speaker maker, Sonos has filed for an initial public offering.
Sonos, a lean company backed by KKR Stream Holdings LLC, Sonos has grown to become a big player in the competitive home audio market, battling established players such as Bang & Olufsen, Bose and Sony as well as iPhone maker Apple.
The company did not give details about the size of its offering but warned that rising trade tensions between China and the United States could hurt its business.
Reuters News quoted a Sonos saying “If further tariffs are imposed on a broader range of imports … we may be required to raise our prices, which may result in the loss of customers and harm our reputation and operating performance.”
Reuters quoted sources who said the company’s IPO valuation was between $2.5 billion to $3 billion.